Laurentian University is moving into the second phase of the bankruptcy process, which includes no more cuts according to President Robert Haché.
In his May 18 report to the LU senate, Haché says they are holding the required audit which will provide a complete review of all the university’s assets.
The Sudbury university filed for creditor protection in February.
He adds Laurentian is committed to going forward with a strong suite of program offerings, providing students with opportunities to study in English or French and a strong path to the future.
Additionally, Haché says work continues on service agreements with the other three universities that share a campus and infrastructure.
An agreement is already in place with Huntington University while the work continues with Thorneloe University and the University of Sudbury to provide shared services.
Haché believes as the university comes out of the creditors process, it will do so on “solid financial footing,” and with a path forward and opportunities for growth.
PHOTO: Laurentian University restructuring continues with a guarantee of no further cuts in courses or jobs. Photo by LU